After days of speculation, the Long Beach Redevelopment Agency today confirmed that storied Long Beach business “Acres of Books” bookstore has been purchased and will permanently close in one year.  The land is being acquired as part of a larger plan to revitalize the area.

The bookstore has operated in Long Beach for nearly 75 years, and was declared a city landmark in 1990.  The agreement reached by the two sides calls for Acres of Books to be compensated for the value of the property as well as relocation and loss of goodwill costs.

“I’m very pleased with the outcome of our negotiations with Acres of Books, and I appreciate all that the Smiths have done for the community throughout the 75 years they’ve been in business,” read a press release statement from Craig Beck, Executive Director of the Redevelopment Agency.  

“The property is part of our Broadway Block project, which will celebrate the arts and further our revitalization efforts in downtown Long Beach.”